The U.S. economy is emerging from a period of stagnant wages and scarce job opportunities. Unemployment is finally declining – because of pro-economic growth policies Bill has supported. Since January 2017, unemployment has steadily fallen, and is approaching historically low numbers. The gross domestic product (GDP), the total value of every good and service produced in the U.S. and the internationally accepted indicator of our economic performance, is showing signs of a consistent 3% growth each quarter. Meanwhile, excessive job-killing federal regulations created under the Obama Administration are being safely unwound – giving small businesses much needed confidence and certainty to expand and hire once again. While this progress is very encouraging, much more can be done. And, it is important that Congress and the Trump Administration continue to focus on pro-growth policies that encourage a new era of economic prosperity here in Eastern and Southeastern Ohio.
Prior to the coronavirus pandemic, our economy was experiencing its largest economic expansion in American history. The unemployment rate was at a 50-year low (3.5 percent), wages were growing faster for low-income workers than for higher-income workers, and 6.4 million new jobs had been created since November 2016. Additionally, under the Tax Cuts and Jobs Act, American families are keeping more off their hard-earned money.
There is no question that the coronavirus has negatively impacted our businesses, schools, communities, and our economy since the outbreak was declared a national emergency earlier this year. But, Johnson believes that it is through great challenges that American exceptionalism shines the brightest and he is confident that our nation will come back stronger.
To help his constituents and the communities in Eastern and Southeastern Ohio during this unprecedented time, Bill Johnson has supported bipartisan economic stimulus bills (now laws) that are 1) helping workers who’ve been let go; 2) helping ensure our healthcare workers who are on the front lines of fighting the coronavirus get the equipment and support they need to win the fight; 3) giving a life-line to the millions of small businesses across America that create over 60% of all jobs (to ensure businesses have the resources to survive this pandemic and so their employees have a job to come back to); 4) providing access to credit in order to help stabilize our major industry employers and job creators that provide products and services across the nation; and 5) providing immediate relief to hardworking families, with most joint filers receiving $2,400 + an additional $500 per child, if eligible.